News archive

Myanmar's Teak exports breach EU Timber Regulation


Following an investigation into Myanmar Teak arriving in the EU, the Environmental Investigation Agency (EIA) submitted a complaint in five countries noting that some importers were not fulfilling the terms of the EU Timber Regulation (EUTR). According to Barber Cho, secretary of Myanmar Forest Certification Council (MFCC), representatives from …

China's custom made furniture on an upwards trajectory


In the first three quarters of 2016 the turnover from the leading custom-made furniture manufacturing enterprise SOGAL Home Furnishing Co., Ltd rose 43% to RMB2,971 billion while net profits of the company grew 48% to RMB408 million. The latest figures available show that nearly 90% of company profits are from custom-made furniture production, a …

UK's timber frame construction saw a spike of 27.6% for new housing sector


In 2015, the timber frame construction experienced an increase of 27.6% in the UK’s new housing sector, according to the latest figures from the Structural Timber Association (STA). The latest Timber Trends report, published by the STA, also predicts that the sector has the potential to reach a 32.4% market share by 2018. In fact, the …

Western Forest Products adjusts 3Q EBITDA to $35.7m

Western Forest Products, British Columbia

Western Forest Products Inc. reported adjusted EBITDA of $35.7 million in 3Q/2016, compared to an adjusted EBITDA of $28.7 million reported in the same quarter last year, and $43 million reported in the 2Q/2016. A significant increase in lumber and export log sales volumes, combined with improved pricing and a strengthening commodity lumber …

Ghana wood exports to Asia up in first 7 mths of 2016

Ghana, ITTO, Asian markets

Ghana’s exports in the first seven months of this year totalled 228,387 cubic metres, worth EUR130,732 million—up 10% in export volume and 24% in earnings compared to the same period last year. Leading export products up to July were air-dried sawnwood (60%), kiln-dred sawnwood (13%), plywood to regional markets (9%), roundwood …

Ghana receives funding from FAO for VPA implementation


The Food and Agriculture Organization (FAO) has signed Letters of Agreement with five corporate bodies in Ghana aimed at supporting private sector implementation of the Voluntary Partnership Agreement (VPA). FAO will fund this support from its Forest Law Enforcement Governance and Trade (FLEGT) programme. Participating agencies include the Kumasi …

Meranti gaining popularity with Malaysian exporters


According to analysts, Malaysian shippers are becomign more active in taking on the competition from Okoume through discounts. Reports suggest that there is a slight excess of stocks which has a downward influence on domestic sales prices. Local traders expect this situation to ease in the coming weeks, particularly as some Malaysian (and others) …

Lumber Liquidators reports widening loss

lumber liquidators, wood flooring, hardwood floor, shares

In the third quarter of 2016, Lumber Liquidators (Toano, Va.) lost $18.4 million as compared to the loss of $8.5 million during the same period in 2015, according to the company’s SEC filing. Sales during the quarter were $244.1 million, a 3.4% increase from the $236.1 million reported in the same period of 2015. Comparable store sales …